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Reliance Power plans bonus
for those hurt by stock fall

By

Santanu Choudhury

Updated Feb. 18, 2008 12:01 a.m. ET

Reliance Power Ltd. said it plans to issue bonus shares to its equity holders, excluding the founders, to support investors who sustained losses after the stock price fell since it was listed on Feb. 11.

Directors of the Mumbai-based company will meet Sunday to consider the proposal, according to a company statement. The move would lower Reliance Power shares to below the initial price of 430 rupees ($10.84) each for retail investors and 450 rupees ($11.34) for institutional and other categories of investors, it said. The...